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When the deal closes, the combined company will operate as Baird Medical Investment Holdings Limited and be listed on the NASDAQ under the new ticker symbol "BDMD." The post Chinese medical tech firm Baird Medical to go public via merger with PE-backed SPAC ExcelFin appeared first on PE Hub.
The short answer to #1 is that healthcare private equity firms operate in specific verticals with stable-ish cash flows, such as healthcare services, nursing facilities, medical devices, equipment, and healthcare IT. Areas like healthcare services and medical devices are fairly generalist and follow standard accounting and valuation.
For example, in the 2012 Facebook IPO, common shareholders gained exposure to the tech giant's fortunes, while also securing a say in corporate matters. By virtue of their ownership, they possess a direct financial interest in the company's success. The private equity firms involved had to navigate a storm of stakeholder concerns.
But it wasn’t all carve outs and concerned investors – even with the headwinds in the industry and beyond, there were still several traditional public M&A deals involving biotechnology or medical device companies, as large pharmaceutical companies continued to have cash to deploy for acquisitions. Let’s dig in.
Complex and novel transaction structures for the sector also were a prominent result of the market and regulatory environment, with reverse mergers remaining a fixture and stock-for-stock deals and take-private transactions led by private equity sponsors entering the scene.
These changes have included increases in the agencies’: Willingness to challenge vertical mergers (e.g., Focus on new potential theories of harm, such as the impact of mergers on labor markets. challenges to vertical mergers and nascent competitor acquisitions). Distrust of divestiture offers.
In November, Johnson & Johnson announced that it will split itself into two publicly traded companies , separating its pharmaceutical and medical devices businesses from its consumer products business. Biopharma favoring partnerships over M&A, with biopharma transactions in 2021 being a volume story. on transactions over 2019’s mega?mergers.
Its more of an industry focus at the intersection of several other strategies , such as long/short equity , event-driven investing , and even merger arbitrage. You could come up with dozens of other potential trades if you also consider call and put options, biotech indices/ETFs, and merger arbitrage ideas. or Ph.D.),
This approach, combining M&A and initial public offering (IPO) preparations on parallel tracks, allows companies to maximize optionality in an uncertain market. Of course, the targets leverage in the M&A track of a dual-track process inherently increases when the IPO track is a viable strategy. Similarly, Novo Holdings $16.5
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